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Colorado Springs HUD Homes, Part II
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(6) Does HUD inspect homes before they sell them?
When you view the Property Detail on the the Mcbreo web site, the link takes you to a comprehensive detail page on the property. On this page, you can link to the Property Condition Report. This report contains information on the major components of the house including the roof, structure, exterior, plumbing, Electrical, HVAC, Interior and Appliances. If deficiencies have been found; it is explained in the Work Required area of the report and it is assigned a dollar amount to correct the issue. It’s a wonderful, very comprehensive report; very informative for potential buyers.
(7) Should I get a home inspection on a HUD home?
All HUD homes are sold “as-is”, without warranty. HUD will not make any repairs nor pay to correct any problems. In some cases, these homes have been vacant for a long time and are found to have deferred maintenance issues from the previous owner.
But even though they are sold “as-is”, a buyer should definitely plan on getting a home inspection. HUD encourages potential buyers to do a thorough visual inspection before even submitting a bid on a home.
After a bid has been accepted, the buyer can hire an inspector for a complete inspection on the home.
(8) What if a buyer want to cancel the bid after the inspection?
According to the information on the Michael, Connor, Boul web site. “If the inspection shows defects not disclosed by us, you can send us the copy of the inspection report and have the sale cancelled.”
(9) One of the HUD home homes I looked at said it had been winterized. What does this mean?
This means that the water has been turned off inside the home and the water pipes have been drained, toilets have been flushed, and antifreeze may have been poured into the sinks, tub/shower, toilet bowls and tanks. If the property has a hot water heater, this has also been completely drained.
(10) How do I get the utilities turned on for the inspection?
Once the bid has been accepted, McBreo has a specific form that needs to be filled out and approved. The form is called ”Permission to Turn Utilities On”. If a buyer does not get permission, the sale will be cancelled and the Earnest Money Forfeited.
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Kathy (719-287-1049) KTorline@msn.com
